Fluent Money secured loans review

Looking to take out a secured loan? Find out what credit broker Fluent Money has to offer.

Using a credit broker to help you find a loan has many benefits. Perhaps the biggest is that they can do a lot of the hard work for you by searching the market and looking for the deal that best matches your requirements. For this reason, using a credit broker can be particularly beneficial if you have a poor credit score, as your broker will know which lenders are more likely to accept your application.

However, before using a credit broker, it’s crucial that you understand exactly what fees you’ll be required to pay for using the service. Some brokers will be paid commission by lenders, but others will charge you a fee. You should also check that your chosen broker is authorised. Legitimate credit brokers will be authorised and regulated by the Financial Conduct Authority (FCA) and listed on the Financial Services Register. All their communications with you should make it clear they are a credit broker and not a direct lender.

This review looks at broker Fluent Money.

Compare Money Fluent loans

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Name Product Loan amounts Loan terms Loan rate type Link
Fluent Money Secured Loan
Fluent Money Secured Loan
£10,000 to £1,000,000
3 years to 30 years
Fixed rates available
View details
Fluent Money is a broker, not a direct lender, the Representative APR is subject to the specific lender.
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Who is Fluent Money?

Fluent Money is a credit broker, mostly known for secured loans. Fluent Money Group was founded in 2008, with Fluent Loans being launched in 2015. The group has been backed by Beech Tree Private Equity since February 2016.

In July 2017 Fluent acquired a mortgage brokerage, Brytannic Extra Finance, which was later renamed to Fluent Mortgages. A year later Fluent Lifetime launched for lifetime mortgage lending products.

Most recently, Fluent Money Group was acquired by mortgage broker Mortgage Advice Bureau.

What types of loans does Fluent Money offer?

Fluent Money only offers secured loans – it does not offer unsecured loans. Secured loans enable you to borrow a lump sum that must be repaid in monthly instalments over a fixed term, with interest added on top.

A secured loan must be backed by something you own (an asset), usually your home but it could also be your car. Because of this security, you can usually borrow a larger sum compared to an unsecured loan – with Fluent you can borrow from £10,000 to £1 million. You can borrow over a longer timeframe of 3 to 30 years, too, although this does mean you’ll end up paying more in interest overall. You’ll also be able to apply if you have a history of CCJs, arrears or defaults.

However, bear in mind that because you must secure your loan against an asset, that asset will be at risk if you are unable to keep up with your loan repayments. This means your lender has the legal right to take possession of it if you default on your loan. If you’ve used your home as security, this means you’re at risk of losing the roof over your head.

Fluent Money also offers bridging loans. These are short term loans usually taken out for up to 12 months. They are designed to help people “bridge” a financial gap, usually if you want to purchase something but are still waiting for the funds to come through. For example, you could use a bridging loan to purchase a new home if yours hasn’t sold yet. With Fluent, you can borrow between £26,000 and £25 million. Bridging loans are available on both commercial and residential properties.

Pros and cons of Fluent Money personal loans

Pros

  • Fluent can help you compare your options to find the best solution
  • You may be able to borrow even if you have a poor credit score
  • Option to follow the progress of your application with the Fluent app
  • Secured loans enable you to borrow larger sums over a longer timeframe
  • Funds can be used for almost any purpose

Cons

  • Your home is at risk if you can’t keep up with your repayments
  • No option to take out an unsecured loan
  • Fluent only has access to a panel of lenders, not the whole market
  • Fees may apply for the broker service, depending on your circumstances

Fluent Money customer reviews

Fluent Money scores highly on Trustpilot, with a rating of 4.8 out of 5 based on more than 3,000 reviews. This is considered an “excellent” rating overall.

A total of 92% of customers gave Fluent Money an “excellent” rating, with positive comments focusing on the helpful and knowledgeable customer service team, as well as the easy, quick and smooth process.

However, a few customers commented on poor and slow customer service.

Other UK secured loan brokers

If you’re not sure whether you want to choose Fluent Money, other UK secured loan brokers to consider are:

  • Loans Warehouse. Offering help with secured loans, personal loans, guarantor loans, short term loans, bridging loans and business loans. Read our Loans Warehouse review here
  • Loan.co.uk. Offering help with secured loans, personal loans and bridging loans.
  • Lending Expert. Offering help with secured loans, personal loans, business loans, guarantor loans, short term loans, bridging loans and car finance.

Our verdict

If you’re looking to borrow money through a loan but you’re not sure where to start, Fluent Money can be an easy way to help you find the right loan for you. If your credit score is low or you’ve had trouble getting access to credit in the past, using a credit broker such as Fluent Money is definitely worth considering as it can help you find a lender that will accept your application.

However, the downside is that Fluent Money only offers secured loans, rather than unsecured options. And while secured loans enable you to borrow a larger sum for a longer period, you’ll also be putting your home (or other asset) at risk, so it’s not a decision to be made lightly. If you’re planning to go down this route, make sure you understand exactly what fees you’ll need to pay and have a plan in place to repay your loan in full and on time.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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